Barclays Reiterates “Equal Weight” Rating for Lineage (NASDAQ:LINE)

Lineage (NASDAQ:LINE)‘s stock had its “equal weight” rating reaffirmed by research analysts at Barclays in a research report issued on Tuesday, MarketBeat reports. They presently have a $38.00 target price on the stock, down from their prior target price of $47.00. Barclays‘s target price would indicate a potential upside of 2.18% from the stock’s previous close.

Several other brokerages have also recently issued reports on LINE. Mizuho lowered their price objective on shares of Lineage from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Royal Bank Of Canada decreased their price objective on shares of Lineage from $51.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Piper Sandler restated a “neutral” rating and issued a $41.00 price target (down previously from $55.00) on shares of Lineage in a research note on Thursday, November 6th. JPMorgan Chase & Co. reduced their target price on Lineage from $43.00 to $38.00 and set an “underweight” rating on the stock in a report on Friday, November 14th. Finally, UBS Group decreased their price target on shares of Lineage from $41.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $42.06.

Lineage Stock Up 1.9%

LINE opened at $37.19 on Tuesday. The firm has a market cap of $8.49 billion, a P/E ratio of -47.08 and a beta of -0.19. Lineage has a 52 week low of $32.46 and a 52 week high of $62.30. The company has a quick ratio of 0.86, a current ratio of 0.99 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $35.19 and its 200 day simple moving average is $39.13.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.07. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. As a group, equities research analysts anticipate that Lineage will post 2.34 EPS for the current fiscal year.

Insider Transactions at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste purchased 74,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was bought at an average cost of $33.83 per share, with a total value of $2,503,420.00. Following the acquisition, the chairman owned 109,266 shares of the company’s stock, valued at $3,696,468.78. The trade was a 209.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert Crisci acquired 10,000 shares of Lineage stock in a transaction dated Friday, November 7th. The shares were acquired at an average price of $34.56 per share, with a total value of $345,600.00. Following the transaction, the chief financial officer owned 107,859 shares in the company, valued at approximately $3,727,607.04. This represents a 10.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 129,000 shares of company stock valued at $4,366,940 in the last quarter. Company insiders own 71.90% of the company’s stock.

Institutional Trading of Lineage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its position in Lineage by 15.2% in the first quarter. Royal Bank of Canada now owns 4,956 shares of the company’s stock worth $290,000 after buying an additional 653 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Lineage during the 1st quarter worth $886,000. Millennium Management LLC grew its holdings in shares of Lineage by 197.0% in the 1st quarter. Millennium Management LLC now owns 288,518 shares of the company’s stock worth $16,916,000 after acquiring an additional 191,362 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Lineage by 26.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,373 shares of the company’s stock worth $669,000 after purchasing an additional 3,201 shares during the period. Finally, Perkins Coie Trust Co purchased a new stake in shares of Lineage during the second quarter valued at $765,000.

Lineage Company Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.